Baruch's Forex System Journal

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Quote from Baruch:

Hi Chaw,

We all have to find our own trading style, and if scalping suits you, it's OK. But I think it's much better to take large profits - and small losses. EUR/USD has a 100 pips range nearly every day, so it's not so difficult to target larger profits.
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I tend to sit at my computer all day so scalping does suit me. But thank you so much for the information you have given me on EUR / USD - i think i will try to let my Profits go on a bit.

I just think that as soon as i leave my PC it will hit my S/L and i will lose out!!
Maybe i should trail my Profits? with a 10 - 15 pip stop loss

Thanks for all your help guys!
 
Quote from izeickl:

How big is your average stop loss? I find with forex with the movement being quite large a lot of the time 10-15pips is within a normal flux range, unless you can keep your stops < 10pips including spread (and not get taken out by normal price flux) then your going to have a hard time making profit over time.
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Hiya,

My average Stopl loss is about 18 pips away. is that to less or is that to much? Which 2 pairs of cuurencies are the best to trade with.
 
Quote from Baruch:

Hi Chaw,

We all have to find our own trading style, and if scalping suits you, it's OK. But I think it's much better to take large profits - and small losses. EUR/USD has a 100 pips range nearly every day, so it's not so difficult to target larger profits.
More...

The way i tend to trade is by using your strategy on a 10 or 15 minute chart.

Go long when MA 50comes down from top and go short when MA 50 crosses it from below.

is it advisable to use a 10 - 15 minute chart for your your strategy. To scalp.

Appreciate the help
 
Quote from Chaw:

I tend to sit at my computer all day so scalping does suit me. But thank you so much for the information you have given me on EUR / USD - i think i will try to let my Profits go on a bit.

I just think that as soon as i leave my PC it will hit my S/L and i will lose out!!
Maybe i should trail my Profits? with a 10 - 15 pip stop loss

Thanks for all your help guys!
More...

Yeah, give it a try. Better let the market decide when you take profit.
 
Quote from Chaw:

Hiya,

My average Stopl loss is about 18 pips away. is that to less or is that to much? Which 2 pairs of cuurencies are the best to trade with.
More...

It's OK. But why 18 pips away?
 
Quote from Chaw:

The way i tend to trade is by using your strategy on a 10 or 15 minute chart.

Go long when MA 50comes down from top and go short when MA 50 crosses it from below.

is it advisable to use a 10 - 15 minute chart for your your strategy. To scalp.

Appreciate the help
More...

I don't understand. How can two 50 ma's cross each other?
 
Quote from Baruch:

I don't understand. How can two 50 ma's cross each other?
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hi baruch,

maybe he is talking about crossing ema and sma or wma of the same period?

it would be great if we would work on a system toghether here, for me the only challenge is that i dont have intraday data in my trading system software for eurusd and the others. i think a daily system is not what i want to do on currencies.

but developing a system that is completely mechanic and thus backtestable would be the only way we could really talk about "hard facts" of a system.
otherwise it always very fuzzy. i also like discretionary trading of course, cause thats what i do mostly.
maybe systemdevelopment would be a nice task for us here?

i have developed some systems on equity indexes, but i always found it very hard because i always tend to focus on several characteristic of the index im working on and so somehow overfit the system - so its the absolute killer on the index it was developed on but is not so good on others.

what would also be very helpful i think, would be to get some statistical data through a system software, for example if we are talking about "eurusd has a daily range of about 100 pips", this should be measured through a system software and then we can be more specific. eg say, 80% of the days eurusd has a range of atleast xxx pips.
just some ideas.

ps: i will get the daily range data from my software and post it here later
 
Quote from rax:

hi baruch,

maybe he is talking about crossing ema and sma or wma of the same period?

it would be great if we would work on a system toghether here, for me the only challenge is that i dont have intraday data in my trading system software for eurusd and the others. i think a daily system is not what i want to do on currencies.

but developing a system that is completely mechanic and thus backtestable would be the only way we could really talk about "hard facts" of a system.
otherwise it always very fuzzy. i also like discretionary trading of course, cause thats what i do mostly.
maybe systemdevelopment would be a nice task for us here?

i have developed some systems on equity indexes, but i always found it very hard because i always tend to focus on several characteristic of the index im working on and so somehow overfit the system - so its the absolute killer on the index it was developed on but is not so good on others.

what would also be very helpful i think, would be to get some statistical data through a system software, for example if we are talking about "eurusd has a daily range of about 100 pips", this should be measured through a system software and then we can be more specific. eg say, 80% of the days eurusd has a range of atleast xxx pips.
just some ideas.

ps: i will get the daily range data from my software and post it here later
More...

Hi rax,

Very good idea.
But I can't understand - if it works on the indexes - why not forex?
A mechanic, automated system could be very find - so we could go fishing every day!
 
Quote from Baruch:

Hi rax,

Very good idea.
But I can't understand - if it works on the indexes - why not forex?
A mechanic, automated system could be very find - so we could go fishing every day!
More...

Sorry: ...could be very FINE...
 
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